Put Options on EW on 11/6/2022

Edwards Lifesciences Corporation (EW) provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. 

It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases. 

On October 27th, Edwards Lifesciences reported 3rd Quarter September 2022 earnings of $0.61 per share on revenue of $1.3 billion. The consensus earnings estimate was $0.62 per share on revenue of $1.4 billion. 

Guided Lower: The company said it expects fourth quarter earnings of approximately $0.61 per share. The current consensus earnings estimate is $0.66 per share for the quarter ending December 31, 2022. 

Shares have formed a bearish flag and lower share prices are expected for this stock as market prices in the new lower guidance.

We will be trading November 18th Put options

Last Trade: $68.54

Trading Range: $67.37 to $131.73

Trade Buy 1 November $70.00 Put at $2.70 For a net debit of $2.70 Profit/Loss Analysis Breakeven at $67.30 Maximum profit is unbounded Maximum loss is ($270.00) at strike of $70.00 Closing Summary Sold 1 November $70.00 Put at $3.00

Position closed on 11/14/2022 at price of $3.00 with a 11.11% gain in 8 days.

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